PEER COMPANIES

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PEER COMPANIES

Edelweiss Financial Services has a buy call on Eicher Motors with a target price of Rs 35,731.

The current market price of Eicher Motors is Rs 28,442.30.

Time period given by the brokerage is one year when Eicher Motors price can reach the defined target.

View of Edelweiss Financial Services on the company:Eicher Motors’ (EIM) Q1FY19 consolidated EBITDA at Rs 8.1bn came in line with estimate despite higher-than-expected commodity pressure. While the waiting list has dipped to less than a month, demand outlook remains strong for premium products—higher demand for rear disc brake options (refer, Gun Metal Grey: Gunning for growth) and faster growth for >350cc segment (4MYTDFY19 growth at 35% YoY versus 17% for 350cc models). EIM is also expanding presence in low-penetration states, which should bolster growth despite the fact that in a few states (Maharashtra, Karnataka) RE demand is synchronising with industry trend. 650cc twins will be launched in September end and delivery will commence from December. Maintain ‘BUY’ with target price of Rs 35,731.

Disclaimer: This recommendation is analyst's own and does not represent those of economictimes.com & ETMarkets.com. Please consult your financial advisor before taking any position in the stock/s mentioned.